Bloomberg News

Dish to Abandon Unsolicited Offer to Acquire Sprint Nextel

June 21, 2013

Dish Network Corp. (DISH:US) said it’s dropping a bid to buy Sprint Nextel Corp. (S:US), a day after the target company raised an offer for Clearwire Corp. (CLWR:US)

Dish will also redeem senior notes maturing in 2017 and 2023 as a result of abandoning the transaction, the Englewood, Colorado-based company said today in a statement.

Dish is also bidding for Clearwire as part of a broader struggle between the pay-television company and Tokyo-based SoftBank Corp. (9984) to enter the U.S. wireless market. Sprint rejected Dish’s unsolicited offer earlier in June.

To contact the editor responsible for this story: Tom Lavell at tlavell@bloomberg.net


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Companies Mentioned

  • DISH
    (DISH Network Corp)
    • $73.44 USD
    • 1.22
    • 1.66%
  • S
    (Sprint Corp)
    • $4.91 USD
    • 0.08
    • 1.63%
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